MSM: Major indexes fall more than 6 percent for week

Wall Street ended another terrible week Friday, leaving major indexes down more than 6 percent as investors worried that the recession will persist for at least the rest of the year and that government intervention will do little to hasten a recovery.

MSM: This financial crisis is now truly global

The financial crisis has moved from Wall Street to all streets, as the economic shock causes strains and suffering in every part of the world economy.

MSM: One in five California public workers to be fired as Arnold Schwarzenegger cuts deep

The state of California was yesterday set to fire 20,000 public employees as it teetered on the brink of a total financial collapse.

MSM: Price of Southern California homes falls 41% from peak

The median sales price in the region drops to $300,000 in October, dragged down by the large number of foreclosed homes on the market.

With the median price of Southern California homes down more than 40% from its peak, the housing market has now slid further than most economists expected.

MSM: Majority of States Now in Recession – Oct. 21, 2008

In March, 5 States Were in Recession; Now There are 27 With 14 More at Risk

What started out as a housing problem in a few states has now exploded into a full-fledged recession with a majority of states now in or dangerously close to recession.